The reason for the decline in Bitcoin's price has been revealed.

There is significant activity in the cryptocurrency market. Despite the upward trend following U.S. President Donald Trump's statements supporting the blockchain industry, the large-scale sales by long-term investors are noteworthy.

Long-Term Bitcoin Investors Sold $67 Billion

According to data shared by CryptoQuant on the X (formerly Twitter) platform, this wave of sales constitutes the highest sales volume recorded since April. This movement caused a reversal of the positive influx of approximately 250,000 BTC in October.

Bitcoin dominance has decreased from levels above 60% to 51%. This decline indicates that the balances in the cryptocurrency market are changing.

This activity in the market coincided with Bitcoin reaching a new record. The leading cryptocurrency reached a new all-time high just a few dollars away from the $100,000 level. These developments indicate that investors are realizing profits and reassessing their positions.